TD Cowen Issues Pessimistic Forecast for Klarna Group (NYSE:KLAR) Stock Price

Klarna Group (NYSE:KLAR) had its price target reduced by stock analysts at TD Cowen from $18.00 to $16.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price target would suggest a potential upside of 20.71% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on KLAR. JPMorgan Chase & Co. restated a “neutral” rating and set a $18.00 price objective (down from $22.00) on shares of Klarna Group in a report on Wednesday, August 19th. Citizens Jmp initiated coverage on Klarna Group in a research report on Tuesday, June 30th. They set a “market perform” rating for the company. Barclays lowered their target price on shares of Klarna Group from $20.00 to $16.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 19th. Wells Fargo & Company cut their price target on shares of Klarna Group from $26.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, August 19th. Finally, Scotiabank started coverage on shares of Klarna Group in a research note on Wednesday, September 2nd. They issued a “sector perform” rating and a $16.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.60.

Klarna Group Price Performance

Shares of NYSE KLAR opened at $13.26 on Tuesday. Klarna Group has a 1 year low of $12.06 and a 1 year high of $44.75. The firm has a 50-day simple moving average of $15.34 and a two-hundred day simple moving average of $15.96. The company has a market cap of $5.00 billion and a P/E ratio of -35.82.

Klarna Group (NYSE:KLAR) last released its earnings results on Friday, August 14th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.07. Klarna Group had a negative return on equity of 5.39% and a negative net margin of 3.54%.The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $992.56 million. The business’s quarterly revenue was up 26.6% on a year-over-year basis. As a group, equities research analysts expect that Klarna Group will post -0.01 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Sebastian Siemiatkowski bought 692,506 shares of the firm’s stock in a transaction on Wednesday, August 26th. The stock was acquired at an average cost of $14.37 per share, with a total value of $9,951,311.22. Following the transaction, the chief executive officer directly owned 25,344,322 shares in the company, valued at approximately $364,197,907.14. This trade represents a 2.81% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Hedge Funds Weigh In On Klarna Group

Several institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC bought a new stake in shares of Klarna Group in the second quarter valued at about $35,000. Caitong International Asset Management Co. Ltd grew its holdings in Klarna Group by 19.6% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 4,053 shares of the company’s stock worth $117,000 after acquiring an additional 665 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in Klarna Group during the 2nd quarter valued at about $86,000. Banque Cantonale Vaudoise increased its position in Klarna Group by 176.6% during the 1st quarter. Banque Cantonale Vaudoise now owns 7,197 shares of the company’s stock valued at $94,000 after purchasing an additional 4,595 shares during the period. Finally, Byrne Asset Management LLC bought a new stake in shares of Klarna Group in the 3rd quarter valued at about $105,000.

About Klarna Group

Klarna Group plc is a financial technology company that provides digital payment and shopping services to consumers and merchants. Its offerings include buy now, pay later options, installment plans, and other flexible payment methods designed to give consumers greater choice at checkout.

The company also operates a shopping platform that helps consumers discover products, compare prices, track orders, and manage purchases. For merchants, Klarna provides payment acceptance, checkout solutions, customer acquisition tools, and related services intended to support online and in-store commerce.

Klarna was founded in Stockholm, Sweden, in 2005 by Sebastian Siemiatkowski, Niklas Adalberth, and Victor Jacobsson.